Ethic Inc. Has $13.99 Million Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Ethic Inc. reduced its stake in Micron Technology, Inc. by 2.7%, holding approximately $13.99 million in shares following the sale of 4,378 shares.
• Micron Technology recently reported quarterly earnings of $1.91 EPS, exceeding estimates, with revenue of $9.30 billion, and analysts expect an average EPS of 6.08 for the current fiscal year.
• JPMorgan Chase & Co. and other firms have raised their price targets for Micron Technology, indicating a generally optimistic outlook, with an average price target of $147.24 among research analysts.

Ethic Inc. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 157,661 shares of the semiconductor manufacturer's stock after selling 4,378 shares during the period. Ethic Inc.'s holdings in Micron Technology were worth $13,986,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its position in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after buying an additional 13,985 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Micron Technology by 12.9% in the fourth quarter. Townsquare Capital LLC now owns 23,494 shares of the semiconductor manufacturer's stock valued at $1,977,000 after buying an additional 2,683 shares during the last quarter. Mariner LLC lifted its position in shares of Micron Technology by 4.2% in the fourth quarter. Mariner LLC now owns 220,722 shares of the semiconductor manufacturer's stock valued at $18,576,000 after buying an additional 8,846 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its position in shares of Micron Technology by 112.7% in the fourth quarter. CreativeOne Wealth LLC now owns 15,383 shares of the semiconductor manufacturer's stock valued at $1,295,000 after buying an additional 8,152 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

NASDAQ:MU opened at $125.29 on Friday. The firm has a market capitalization of $140.21 billion, a price-to-earnings ratio of 22.57 and a beta of 1.37. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $129.85. The stock has a fifty day moving average of $117.77 and a 200 day moving average of $98.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same quarter last year, the company earned $0.62 earnings per share. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's payout ratio is currently 8.29%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MU. JPMorgan Chase & Co. lifted their price target on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Micron Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $150.00 price objective on the stock. Robert W. Baird raised their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Micron Technology in a research note on Monday. Finally, Raymond James Financial lifted their price target on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $147.24.

Insider Transactions at Micron Technology

In related news, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.